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current account

American  

noun

  1. Also called open account.  an account of credits, debits, receipts, and expenditures between two individuals or companies, usually providing for settlement at the end of specified accounting periods.

  2. (in certain foreign countries) a checking account.

current account British  

noun

  1. Canadian name: chequing account.  US name: checking account.  an account at a bank or building society against which cheques may be drawn at any time

  2. economics that part of the balance of payments composed of the balance of trade and the invisible balance Compare capital account

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Etymology

Origin of current account

First recorded in 1840–50

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Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.